Cybersecurity » Massive Insider-Trading Hack Scheme Alleged

Massive Insider-Trading Hack Scheme Alleged

August 17, 2015

The U.S. government is accusing a group based in Ukraine of hacking into news organizations, including Business Wire, PR Newswire, and MarketWire, and gaining early access to market-moving information, including upcoming mergers and acquisitions. They’re alleged to have then sold  the information to traders who used it to make profits of more than $100 million over a period of several years, with the hackers taking their cut either with a flat fee or a percentage of profits.

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